The author of the article argues that capitalism is the best system for our society in the United States. He cites failing socialist societies, such as Portugal, Greece and Italy to counteract the notion supported by today's youth that socialism is the best way to go.
He then goes on to describe our system as "philanthropic capitalism," rejecting the name "welfare capitalism." He supports this nomenclature by describing that the wealthy in our nation, for the most part, instead of being required to pay high taxes for certain benefits to the less fortunate, choose to give to charities.
He argues that this is more beneficial than socialism, and that many successful family businesses give back to the community in form of community donations. This can involve new buildings or donations to neighborhood initiatives. The author lists examples of Wisconsin small businesses that have given back to the community.
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Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.